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For More Information Call Orlando Toll Free - 877-858-5003 Orlando Local - 407-275-4488 Tampa Toll Free - 866-593-3497 Tampa Local - 813-493-2272 |
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For More Information Call Orlando Toll Free - 877-858-5003 Orlando Local - 407-275-4488 Tampa Toll Free - 866-593-3497 Tampa Local - 813-493-2272 |
Orlando Economy Downtown Orlando A large part of the Orlando area economy is involved in the tourist industry. Over 48 million visitors came to the Orlando region in 2004. The convention industry is also critical to the region's economy. The Orange County Convention Center, expanded in 2004 to over two million square feet (200,000 mē) of exhibition space, is now the second-largest convention complex in terms of space in the United States, trailing only McCormick Place in Chicago. However, when the total annual number of convention attendees is considered, Orlando is now second to Las Vegas, having passed Chicago in 2005. The area's economy includes other industries besides tourism, such as manufacturing. Lockheed-Martin has a large manufacturing facility for missile systems, aeronautical craft and related high tech research due to Orlando's proximity to the NASA Kennedy Space Center. Since the 1970s, the area has also been home to many computer software and hardware firms, such as IBM. Other notable engineering firms have offices or labs in the Central Florida area: KDF, General Dynamics, Harris, Westinghouse, Siemens, Veritas/Seagate, multiple USAF facilities, Naval Air Warfare Center Training Systems Division (NAWCTSD), Delta Connection Academy, Embry-Riddle Aeronautical University, GE, Air Force Agency for Modeling and Simulation (AFAMS), Army Simulation Training and Instrumentation Command (STRICOM), AT&T, Boeing, CAE Systems Flight & Simulation Training, HP, Institute for Simulation and Training, Northrop Grumman, Raytheon Systems. The Naval Training Center until a few years ago was one of the two places where nuclear engineers were trained for the US Navy. Now the land has been converted into the Baldwin Park development.Another developing sector is the film, television, and electronic gaming industries, aided by the presence of Universal Studios, Disney-MGM Studios, Full Sail School, and other entertainment companies and schools. Numerous office complexes for large corporations have popped up along the Interstate 4 corridor north of Orlando, especially in Maitland, Lake Mary and Heathrow. The U.S. modeling, simulation, and training (MS&T) industry is centered around the Orlando region as well, with a particularly strong presence in the Central Florida Research Park adjacent to UCF. Nearby Maitland is the home of Tiburon, a division of the video game company Electronic Arts. Originally Tiburon Entertainment, it was acquired by EA in 1998 after years of partnership, particularly in the famous Madden NFL series and NCAA Football series of video games. Due to this, there were rumors in 2005 that EA may move its corporate HQ to Orlando. There is a very low unemployment rate in Greater Orlando of 2.8% as of May 2006. The result is explosive growth that has led to urban sprawl in the surrounding area and skyrocketing housing prices. Housing prices in Greater Orlando went up 34% in one year, from an average of $182,000 in August 2004 to $245,000 in August 2005. House prices continue to rise, reaching a record $252,000 in May 2006. Many apartments have been turned into condos since 2003. |
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